PKR depreciates by 2.2 rupees over the week

MG News | May 29, 2020 at 04:15 PM GMT+05:00

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May 29, 2020 (MLN): Pakistani rupee (PKR) depreciated by 1.1 rupees against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 163.1 per USD, against yesterday's closing of PKR 161.99 per USD.

1.75 rupees per USD showing an intraday high bid of 163.50 and an intraday Low offer of 162.00.

During the week, the currency has lost 2.2 rupees against the greenback, as the previous week was concluded at PKR 160.92 per USD.

Within the Open Market, PKR was traded at 161.5/163 per USD.

Meanwhile, the currency lost 2.3 rupees to the Pound Sterling as the day's closing quote stood at PKR 200.75 per GBP, while the previous session closed at PKR 198.47 per GBP.

Similarly, PKR's value weakened by 2.8 rupees against EUR which closed at PKR 180.98 at the interbank today.

On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs.461.95 billion for 7 days at 8.02 percent.

The overnight repo rate towards close of the session was 8.00/8.10 percent, whereas the 1 week rate was 8.02/8.07 percent.

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